Five years ago as indicated in its second growth and transformation plan, Ethiopia aimed to generate $800 million in 2020 from export of leather products. On the other hand African countries with less cattle population have managed to earn more hard currency from export of leather products. Meanwhile local leather products manufacturing companies fear that the decision will lead to shortage of leather in domestic market and make them out of business. Some leather products argued that it is not right for the the policy makers to take tax rate from 100 percent down to zero automatically. In 2018/19 fiscal year, Ethiopia has exported close to 93 million meat, while the earnings from live meat export has gradually declined to $42 million.
Source: News Business Ethiopia June 02, 2020 10:33 UTC